Senator Thom Tillis is pressing Senate Banking Committee Chair Tim Scott to hold the CLARITY Act until May, citing unfinished stablecoin yield talks between banks and crypto firms.
Tillis Urges May Markup
The North Carolina Republican told Scott the panel should not advance the digital asset market structure bill in April, Punchbowl News reported on Tuesday.
"We need to be looking at May as a markup time," Tillis said.
Speaking to reporters Monday night, Tillis also said he does not expect an April markup. He wants negotiators to keep working on the compromise over stablecoin interest.
Tillis has led the effort with Maryland Democrat Angela Alsobrooks to bridge the bank and crypto camps on yield. Their draft bans passive rewards on idle balances but allows activity-based incentives.
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Banks Dig In
The Senate Banking Committee must decide by Friday whether to notice a markup for the week of April 27. The Kevin Warsh Fed chair nomination hearing is already crowding the calendar.
The American Bankers Association kept up the pressure this week with a fresh Politico ad opposing yield-bearing stablecoins. Banking groups argue the tokens could drain deposits from traditional accounts.
Treasury Secretary Scott Bessent has urged Congress to act, saying the delay has weighed on Bitcoin (BTC) and the broader market.
Polymarket traders now put the odds of President Donald Trump signing the bill this year at 50%, down from a recent high of 64%. The House cleared its version 294 to 134 in July 2025, and the Senate Agriculture Committee marked up its piece in January.
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